Chile sees higher copper production in July

Monday, September 11, 2017

Copper production in Chile rose 5.0% year-on-year to 467,700t in July, state copper commission Cochilco said in its latest monthly report.

Compared sequentially, copper was 5.4% higher from the 443,800t seen in June, while output for the first seven months of the year was down 7.0% to 2.99Mt.

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BHP's Escondida mine, which experienced a 43-day strike earlier this year, saw output for the first seven months fall 32.9% to 409,300t.

State copper giant Codelco posted a 4.4% year-on-year drop in output to 1.01Mt in January-July. Production at its Chuquicamata-Radomiro Tomic-Ministro Hales complex dipped 10.0% to 452,800t, while output at its smallest mine, Salvador, was down 3.3% to 32,500t, and El Teniente's output dropped 2.6% to 262,500t.

Production at Codelco's Andina rose 18.1% to 129,900t in the seven-month period, while its Gabriela Mistral division reported 2.6% growth to 71,200t.

Collahuasi, a JV between Anglo American and Glencore, is Chile's second largest copper mine, and reported a 0.7% drop in output to 288,000t in January-July. Production at Antofagasta Minerals' Los Pelambres fell 3.4% to 199,600t. Output at Lundin Mining's Candelaria was up 20.9% to 87,400t.

Anglo American Sur reported a 2.3% decline to 206,600t, while output at the Zaldívar mine, jointly controlled by Antofagasta and Barrick Gold, fell 1.5% to 59,900t.

El Abra, controlled by Freeport-McMoRan with a 51% stake and 49% owned by Codelco, saw production decline 29.0% to 44,000t. Output at BHP's Spence (pictured) was up 23.7% to 116,900t, while production at its Cerro Colorado operation was down 20.7% to 40,300t.

Teck Resources' Quebrada Blanca saw output slip 30.3% to 14,000t in the first seven months, while production at Glencore's Lomas Bayas mine climbed 4.6% to 47.500t.



Chilean molybdenum production was up 1.13% year-on-year to 5,029t in July, Cochilco said in a separate report. Output for the first seven months climbed 10.2% to 36,546t.

Codelco's molybdenum output fell 10.7% to 16,191t in January-July, mainly because of declines at its Chuquicamata, Radomiro Tomic and El Teniente mines, which offset increases at the Salvador and Andina mines.

Los Pelambres produced 5,580t, up 38.7% from January-July 2016. Collahuasi's molybdenum output fell 69.7% to 821t, while Anglo American Sur reported a 23.4% drop to 1,22Mt.

Combined production at the Lumina Copper, Sierra Gorda and Valle Central operations was 12,729t in January-July, up 10.2%.



Chilean gold production decreased 4.5% year-on-year to 3,217kg (103,429oz) in July, while silver output was 6.0% lower at 110,168kg, the state agency said separately.

Gold output for the first seven months was down 15.9% to 20,526kg, while silver production fell 22.7% to 698,972kg.